Summary sheet
This operation concerns the purchase of Green Bonds, with proceeds financing new eligible projects in the Flemish Region. The Green Finance Framework includes investments in green infrastructure (such as electricity distribution infrastructure for renewable energy integration and retrofitting gas networks for renewable or low-carbon gases), energy efficiency, and sustainable water and wastewater management. However, the Promoter has indicated that the projects to be financed with the bond proceeds will mainly relate to the electricity sector, including distribution network infrastructure and/or equipment, as well as LED rollout in public lighting. Therefore, to ensure a streamlined appraisal, such projects will focus exclusively on electricity sector investments.
The aim is to support the EU renewable energy and greenhouse gas emission reduction, as well as competitive and secure energy objectives. The project is expected to contribute to the EIB Group's climate action and environmental sustainability objectives, in particular to climate mitigation, climate adaptation, sustainable use and protection of water resources.
Most of the projects financed with the bond proceeds are expected to fall under Annex II of the environmental impact assessment (EIA) Directive 2011/92/EU, as amended by EIA 2014/52/EU, requiring screening by the national competent authority on the basis of Annex III of the same Directive, to determine the need for any EIA. The impacts that can be typically expected relate to visual impact, vegetation clearance, collision and electrocution of flying vertebrates, electromagnetic fields, noise nuisance, and disturbances during construction, as well as the possible impacts on protected fauna and flora (Habitats 92/43/EC and Birds 2009/147/EC Directives).
The promoter shall ensure that the contracts for the project implementation have been and will be tendered in accordance with the applicable EU procurement legislation: Directive 2014/23/EU / 2014/24/EU / 2014/25/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.